The initial budget cost is established by reference to cost data derived from previous projects. With construction contracts in excess of C£60 million tendered annually by Nicolaou & Konnides, our data base is constantly updated to reflect the latest movements in construction market prices.
The budget is allocated amongst the various building elements to establish limits within which each element is allowed to develop. As the scheme develops, each element is checked to ensure it remains within its limit and the overall scheme remains within budget.
With the experience of previous projects, we are in a position to guide the design consultants so that they concentrate on the critical cost significant elements of the Project at the early stages of design.